Stordahl Capital Management Inc. Acquires New Holdings in Blackstone Inc. (NYSE:BX)

Stordahl Capital Management Inc. acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, Holdings Channel reports. The fund acquired 1,200 shares of the asset manager’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bangor Savings Bank boosted its position in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the period. West Financial Advisors LLC purchased a new stake in Blackstone in the 3rd quarter worth approximately $27,000. Berbice Capital Management LLC purchased a new stake in shares of Blackstone in the 4th quarter worth about $34,000. Kieckhefer Group LLC bought a new position in Blackstone in the fourth quarter worth about $39,000. Finally, Raleigh Capital Management Inc. raised its position in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BX shares. Wells Fargo & Company decreased their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Citigroup raised their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $169.56.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Up 0.1 %

Shares of BX opened at $185.73 on Thursday. The business’s 50 day moving average is $180.91 and its 200 day moving average is $161.67. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a market capitalization of $134.10 billion, a PE ratio of 63.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Research analysts expect that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.